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policy of insurance on the property in the amount of Eighty
Thousand and no/100----------------(~ 80,000.00), and to main-
t
tain same at that level for the remainder of the term of this
Lease.
TIJENTIETH: The Lessee shall pay to the Lessor or his desig-
nee, upon notice and documentation of the amount, all ad valorem
taxes due and payable on the propert~~ so leased. -
TWENTY-FIRST: Right of first refusal to purchase. Lessor
grants to Lessee, or its assigns, nominees, or designees, the
exclusive right of first refusal to:purchase the demised property,
together with all improvements thereon. If Lessor should re-
ceive from a third party a bonafide offer to purchase the demised
premises and the improvements thereon constructed, at a price
and upon terms and conditions acceptable to said Lessor, said
Lessor shall immediately give written notice to Lessee of such offer
setting forth the price, terms and conditions together with a
statement that same is acceptable to the Lessor. Within thirty
(30) days after receiving the novice, Lessee shall have the right
to elect in writing to purchase the demised premises and the improve-
ments thereon on-the same terms and conditions as set forth in
i the notice. If Lessee fails to elect to so purchase within said
period, the Lessor shall be free to sell to the said third party _
I. on the terms and conditions set forth in the notice. If Lessee
does-not exercise its right of first refusal to purchase as set
~ forth herein, it shall, at the request and expense of the Lessor,
furnish such Lessor with a written statement in recordable form
evidencing its election not to exercise its right of first refusal
set fortn herein.
This Lease shall be recorded in the Public Records of.St.
Lucie County, Florida. -
IN WITNESS WHEREOF, the parties hereto have hereunto exe-
cuted this instrument for the purposes herein expressed, the day
and year first above written, containing eight (8) pages and
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. ~x 327 Pa~E 454
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